Honda India Foundation (HIF) will give preference to the local areas around its operations for spending the amount earmarked for CSR activities. HIF’s operations are mainly concentrated in the following areas:
The beneficiaries of HIF’s CSR programs may be the following categories of people:
Honda India foundation (HIF) has been set up by Honda group companies to implement CSR activities. HIF is a registered trust, established in 2019, with the aim of driving consolidated, large-scale and strategic CSR interventions for all Honda group companies in India. The company may conduct / implement CSR programs by:
HIF will prepare an annual plan for implementation of activities that will be approved by the CSR committee and board of the company before implementation. The company may collaborate or pool resources with other group companies to undertake CSR activities and any expenditure incurred on such collaborative efforts would qualify for computing the CSR spending. Furthermore, in line with sub-rule (6) of Rule 4 of the Companies (Corporate Social Responsibility Policy) Rules 2014, expenditures pertaining to building CSR capacities of own personnel, including expenditure on administrative overheads shall not exceed five percent of total CSR expenditure in one financial year.
The progress will be reported to the CSR Committee during the committee meetings. The progress on CSR programs undertaken by the Company will be reported in the Annual Report in the format prescribed by the CSR Rules 2014.
The Company will put in place a well-defined monitoring mechanisms to ensure that each social project has:
These processes will ensure that all projects are monitored closely for outcome and future sustainability. The HIF CSR team shall be responsible for day to day management of CSR related activities of the company. The team shall periodically report to the CSR committee regarding the financial and programmatic progress of CSR projects.
All projects undertaken by HIF shall be monitored on a regular basis. On-site monitoring would also be undertaken at least once a year to ensure on-track implementation.
The CSR team shall be empowered to appoint an external third party to monitor / review / audit the progress (financial and programmatic) of CSR projects that are critical in terms of size, scope, beneficiary coverage, theme or potential reputational risks. The scope of monitoring shall include:
a) Quarterly Monitoring of NGO partners
b) Routine program monitoring to track key operational strategies
c) Focus on beneficiary acceptance and course correction